15,568 Shares in The New York Times Company (NYSE:NYT) Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new stake in The New York Times Company (NYSE:NYT) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 15,568 shares of the company’s stock, valued at approximately $763,000.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in New York Times in the 4th quarter valued at $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of New York Times during the 3rd quarter worth $37,000. Compass Wealth Management LLC acquired a new stake in shares of New York Times during the 4th quarter worth $30,000. Belpointe Asset Management LLC increased its holdings in shares of New York Times by 31.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock worth $59,000 after buying an additional 365 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of New York Times during the 3rd quarter worth $63,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NYT has been the subject of a number of research analyst reports. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, March 4th. Citigroup initiated coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Insider Transactions at New York Times

In other New York Times news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,557 shares of company stock valued at $1,029,968. Insiders own 2.00% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock traded down $1.27 during trading hours on Friday, hitting $42.42. 1,225,901 shares of the company were exchanged, compared to its average volume of 1,041,882. The New York Times Company has a one year low of $35.06 and a one year high of $49.87. The business’s 50-day simple moving average is $43.73 and its two-hundred day simple moving average is $44.66. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 30.52 and a beta of 1.01.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. During the same quarter last year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.13 per share. This is a boost from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Monday, April 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.23%. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.